Long-term rates stayed in their new range last week, only about 0.20 percent above the July-September one. New economic data do not show acceleration in the U.S. economy, not in any element. Maybe slowing, but certainly not accelerating. Nevertheless, more rate-hike smoke is drifting near the Fed.
- Central bankers all over the world are re-deploying, all except our Fed still confronted with weak economies beyond self-sustenance.
- The U.S. economy is OK, and some old, reliable signs flash signals that extreme ease is overdone.